Caterpillar Inc. (NYSE:CAT) Short Interest Down 18.8% in June

Caterpillar Inc. (NYSE:CAT) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 7,358,500 shares, a drop of 18.8% from the May 30th total of 9,061,400 shares. Based on an average trading volume of 4,260,000 shares, the short-interest ratio is currently 1.7 days. Currently, 1.3% of the company’s shares are sold short.

Several institutional investors and hedge funds have recently modified their holdings of the company. Country Club Trust Company n.a. boosted its holdings in shares of Caterpillar by 2.8% in the 2nd quarter. Country Club Trust Company n.a. now owns 6,482 shares of the industrial products company’s stock valued at $883,000 after buying an additional 177 shares during the last quarter. Community Bank & Trust Waco Texas boosted its holdings in shares of Caterpillar by 0.7% in the 2nd quarter. Community Bank & Trust Waco Texas now owns 18,471 shares of the industrial products company’s stock valued at $2,517,000 after buying an additional 125 shares during the last quarter. Smith Salley & Associates boosted its holdings in shares of Caterpillar by 2.1% in the 2nd quarter. Smith Salley & Associates now owns 7,401 shares of the industrial products company’s stock valued at $1,009,000 after buying an additional 154 shares during the last quarter. Wealth Architects LLC boosted its holdings in shares of Caterpillar by 8.6% in the 2nd quarter. Wealth Architects LLC now owns 2,897 shares of the industrial products company’s stock valued at $395,000 after buying an additional 230 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of Caterpillar by 117.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 107,237 shares of the industrial products company’s stock valued at $14,615,000 after buying an additional 58,001 shares during the last quarter. 65.45% of the stock is owned by institutional investors.

Shares of CAT traded up $4.40 during mid-day trading on Friday, hitting $138.36. 4,148,800 shares of the company’s stock were exchanged, compared to its average volume of 4,370,231. The firm has a market capitalization of $77.39 billion, a P/E ratio of 12.33, a PEG ratio of 0.90 and a beta of 1.54. Caterpillar has a 52 week low of $112.06 and a 52 week high of $159.37. The stock has a 50-day moving average of $129.24. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.98 and a current ratio of 1.43.

Caterpillar (NYSE:CAT) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.10. The company had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.36 billion. Caterpillar had a net margin of 11.50% and a return on equity of 45.08%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.82 EPS. On average, equities research analysts anticipate that Caterpillar will post 12.22 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Monday, July 22nd will be paid a dividend of $1.03 per share. This is a boost from Caterpillar’s previous quarterly dividend of $0.86. This represents a $4.12 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, July 19th. Caterpillar’s dividend payout ratio (DPR) is currently 30.66%.

A number of brokerages recently weighed in on CAT. Standpoint Research upgraded shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Zacks Investment Research cut GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 2nd. Macquarie set a $155.00 target price on Deckers Outdoor and gave the stock a “hold” rating in a research note on Tuesday, June 11th. Atlantic Securities cut W W Grainger from a “neutral” rating to an “underweight” rating in a research note on Friday, June 21st. Finally, Bank of America set a $152.00 target price on Caterpillar and gave the stock a “buy” rating in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $145.39.

About Caterpillar

Caterpillar, Inc engages in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. It operates through the following segments: Construction Industries, Resource Industries, Energy and Transportation, Financial Products, and All Other.

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